Philip Morris 1Q Sales Rise on Smoke-Free Business Growth

Published: 2026-04-22 07:47:25 ET PM

Published on 04/22/2026 at 07:47 am EDT

By Katherine Hamilton

Philip Morris International logged higher revenue in the first quarter, with particularly strong growth in its smoke-free business.

The tobacco company on Wednesday posted a profit of $1.56 a share in the first quarter, compared with $1.72 a share a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.96, ahead of the $1.83 anticipated by analysts, according to FactSet.

Revenue rose 9.1% to $10.15 billion in the quarter. Analysts surveyed by FactSet forecast revenue of $9.91 billion.

Philip Morris's sales in its smoke-free unit rose 12.4%, while the combustibles segment--which includes cigarettes--saw sales rise 6.7%. Smoke-free accounted for 43% of total revenue, the company said.

The conflict in Iran had a small impact on the business in the first quarter, which affected shipments to global travel retail and certain markets in the region. The company is not assuming a prolonged impact in its guidance, but it factored in some increases in energy and transport costs.

It expects full-year adjusted earnings per share to be $8.36 to $8.51. Analysts are forecasting $8.38 a share. The outlook assumes revenue growth of 5% to 7% on an organic basis.

Shares were up 3.4% to $158.46 in premarket trading.

Write to Katherine Hamilton at [email protected]

(END) Dow Jones Newswires

04-22-26 0746ET